DOI: 10.33917/es-3.169.2020.50-54

The global economy, including the eurozone, experienced a shock in 2008. As one of the consequences, central banks of the largest economies in the world, in order to support economic activity, reduced interest rates on loans. Although 11 years have passed, in the eurozone lending rates still remain extremely low. This indicates that the monetary union has not yet recovered from the post-crisis state. In fact, more and more probable is becoming a recently inconceivable scenario that the eurozone for a long time will get into the era of negative interest rates.

In the last period every year the global economy was increasingly dependent on the pace of China’s economy development, on which many countries have traditionally pinned their hopes for successful exit from the crisis. 2015 has clearly and unequivocally demonstrated the tendency of Chinese critical instability increase. There are many reasons, and one of the most important was the change in the US policy — termination of “quantitative easing” programs, which determines conditions of demand for Chinese goods and the volume of their exports. Once and for all the credit character of “successful” China’s economic growth became apparent, the possibility of obtaining the effect from realizing the model of financial incentives to China’s national economy through increasing the volume of loans and investments is almost exhausted. The main conclusion: there is a direct correlation between the consequences of investment and industrial glut in China due to extreme economic growth and strengthening of structural economic and financial disproportions laying the contours of inevitably arising from them a new round of Chinese and the global economic crises.